IBT Staff Reporter

U.S. employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.

U.S. hedge fund Citadel Investment Group LLC plans to roll out several new funds, including one with lower fees that will aim to make money on currencies, interest rates and other trades based on broad economic trends, the Wall Street Journal reported.

U.S. President Barack Obama is repeating George W. Bush's worst market mistakes, Forbes Inc Chief Executive Steve Forbes wrote in the Wall Street Journal.

With about three months to go, U.S. regulators say some consumers are still unprepared for the television industry switch to digital broadcasting, which will affect Americans who do not receive their signals through cable or satellite.

Wells Fargo & Co cut its dividend 85 percent on Friday , a widely expected move that the fourth-largest U.S. bank said will save $5 billion a year.

Fraud-hit Satyam Computer Services won regulatory approval to sell a majority stake in itself, but potential suitors said there was still uncertainty about the Indian company's accounts and liabilities.

Stock index futures dipped on Friday as investors feared government payrolls data for February may show the recession is deepening and extend Wall Street's recent fall to 12-year lows.

China's economic leaders struck a note of quiet confidence on Friday that the economy is already reviving in response to swift action to counter the shock of the global financial crisis.

Two top contenders for senior posts at the U.S. Treasury have withdrawn, people familiar with the moves said on Thursday, dealing a blow to Treasury Secretary Timothy Geithner's efforts to build his staff to fight the financial crisis.

Citigroup plans to sell its 26 percent stake in Japanese online broker Monex Group Inc as part of the struggling U.S. bank's efforts to raise cash, the Yomiuri newspaper reported on Friday.

Coca-Cola Co, the world's largest soft drinks maker, said on Friday it will invest $2 billion in new plant and distribution infrastructure in the next three years in China.

Europe called for clarity on crisis-hit carmaker GM's plans for assets in the region with a German minister saying insolvency could be an option for Opel, while the Continental board met on Friday to discuss Schaeffler. As carmakers worldwide battle a sales slump, debate continued over the future of General Motors' European assets, with attention focusing on German brand Opel. German Interior Mi...

The dollar rolled back sharply from three-year highs on Friday and demand for euro zone government debt rose as investors fretted that U.S. employment data would be worse than previously forecast.

Job losses in the United States likely accelerated last month and the unemployment rate probably surged to a 25-year high as recession-hit companies took drastic steps to cut costs, according to economists.

Japan's broad TOPIX stock index slid to a 25-year low on Friday after a warning from General Motors about possible bankruptcy slammed Wall Street, but hopes for more stimulus spending in China limited losses in most Asian markets.

The U.S. government plans to invite wealthy investors to invest in the bailout of the crippled financial system, The Washington Post reported on Friday.

Asia stocks slid on Friday after a warning from General Motors' that it may need to file for bankruptcy drove Wall Street shares to 12-year lows and highlighted the severe troubles of major U.S. companies and banks.

The U.S. Federal Reserve refused to identify the trading parties who benefitted from the bank's bailout of insurance giant American International Group.

The times when PC sales were sky high and seemingly unaffected by the credit crisis have come to an end with the industry taking a beating from the current global economic crisis.

Asia stocks slid on Friday after a warning from General Motors' that it may need to file for bankruptcy drove Wall Street shares to 12-year lows and highlighted the severe troubles of major U.S. companies and banks.

On March 5 Pepsi reinvigorated its beverage lineup with the announcement of three new products as part of its “Refresh Everything” campaign.

The U.S. Federal Reserve refused to identify trading partners benefiting from a $180-billion taxpayer bailout of American International Group as one lawmaker said Europe's financial stability was at stake in the rescue of the insurer.

Travellers come to Anguilla for the natural beauty and quiet atmosphere, the 33 sparkling strands, art galleries, and other historical and cultural offerings.

On March 5 BlueStar Energy Services, Inc. announced that it has closed a new secured credit facility.

General Electric Co acknowledged on Thursday that a cut in its top-tier credit rating was possible, but its chief financial officer said there was no time bomb hidden in its hefty finance arm.

Stocks slid on Thursday with the Dow and S&P falling to 12-year lows as General Motors' warning of possible bankruptcy and concerns about the banking system's fate reinforced investors' reluctance to take on risk.

Google Inc plans to let its cash pile up as it weathers the economic recession, the Web search leader's Chief Executive Eric Schmidt said on Wednesday.

Stocks slid on Thursday with the Dow and S&P falling to 12-year lows as General Motors' warning of possible bankruptcy and concerns about the banking system's fate reinforced investors' reluctance to take on risk.

A widely anticipated cut to General Electric Co's credit ratings would likely not take the U.S. conglomerate below the double-A level, bond experts and GE's chief financial officer said on Thursday.